01
Read the offer, not just the rate
The posted number hides the term, the prepayment rules, and the penalty math. Spencer walks through all of it in plain language.
Orb Mortgages
Rates jumped. Your payment doesn't have to.
Your renewal is a decision, not a rubber stamp.
When your term ends, your bank sends one number. Spencer Vella checks it against what other lenders in Ontario would offer, so you renew on the best terms available to you, not just the easiest one to sign.
- Free review before you sign
- Compares multiple lenders
- Kitchener, ON
Kitchener, Ontario
The renewal trap
Why the letter in the mail is rarely your best rate
A renewal offer is convenient for the bank. Here is what a proper review looks at before you commit for another few years.
02
Shop it before it locks
Most lenders let you hold a rate for a set window while your current term runs out. Start early and you keep your options open.
03
Switch only if it pays
Sometimes staying put is the right call. You get a straight answer either way, at no cost to talk.
FSRA-licensed · #M26000523 · Mortgage Foundations. Spencer Vella compares mortgage options directly with lenders, at no cost to talk and no obligation.
The fine print
Spencer Vella is a licensed Mortgage Agent Level 1 in Ontario, FSRA licence #M26000523, with Mortgage Foundations (brokerage licence #13614). Any rate, product, or approval is set by the lender and confirmed in writing directly with Spencer Vella and the lender before it is binding. Rates and product availability can change and are not guaranteed. Nothing here is financial or legal advice.
Frequently asked questions
When should I start looking at my renewal?
About four months out. Many lenders will hold a rate for you while your current term finishes, so starting early costs nothing and keeps your choices open.
Does a review mean I have to switch lenders?
No. Sometimes your current lender’s offer is already strong and staying is the right move. The point is to know that before you sign, not after.
What does the review cost me?
Nothing to talk it through. A mortgage agent is paid by the lender on closing, so there is no fee to you for the review itself.
What do you need from me to start?
Your renewal letter and a few basic details about the property and your income. That is enough for Spencer to tell you where you stand.
Free, no-obligation review
Reserve your spot, then pick a time
Leave your details and we'll hold your spot, then you go straight to the booking page to pick a time that suits you.
- FSRA-licensed mortgage agent
- Reviews your offer against multiple lenders
- Free, no-obligation renewal review
Prefer to talk? Call (519) 801-9800.